Poolin Texas mining assets baseline bid
Company: Hut 8
What the later record shows
Delivered on time · happened October 2, 2026
Law360 reported on October 2, 2026 that, after the reopened auction, a bankruptcy court approved Poolin's $180M sale to Hut 8, the same bidder that won before. Closing of the deal and the milestone payments are not reported.
“Poolin Gets Approval For $180M Hut 8 Sale After Auction Redo”
2026-10-02 · Poolin Gets Approval For $180M Hut 8 Sale After Auction Redo - law360.com View cached copy (2026-10-03)Live source ↗Archive.org ↗
“received approval Friday from a New Jersey bankruptcy court for a $180 million sale of its assets to the same bidder that won”
2026-10-02 · Poolin Gets Approval For $180M Hut 8 Sale After Auction Redo - law360.com View cached copy (2026-10-03)Live source ↗Archive.org ↗
Checked October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Hut 8 affiliates are the baseline (stalking-horse) buyers for Poolin's Texas mining assets under agreements worth up to $180 million: $100 million at closing plus up to $80 million in milestone payments contingent on qualifying data center transactions. An auction is scheduled for October 2, 2026.
Source (primary)
Poolin Auction Reopens as Hut 8 Deal Ties $80 Million to Data Center Milestones - TheEnergyMag (-, news_article)
View cached copy (2026-10-05)Live source ↗Archive.org ↗
Quote: “Hut 8's affiliates remain the baseline buyers under agreements worth up to $180 million, comprising $100 million at closing and $80 million contingent on qualifying data center transactions.”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The article describes Hut 8's affiliates as baseline buyers with bid protections under agreements of up to $180 million ($100 million at closing plus up to $80 million tied to data center milestones), and it states that the reopened auction is set for October 2.
Confirmed in the source:
- Hut 8's affiliates remain the baseline buyers for Poolin's Texas mining assets
- The baseline agreements are worth up to $180 million
- The $180 million comprises $100 million at closing and up to $80 million in milestone payments
- The milestone payments are contingent on qualifying data center transactions
- Hut 8 receives bid protections (a $3 million breakup fee and $250,000 expense reimbursement), consistent with a stalking-horse role
- An auction is scheduled for October 2 under the September 30, 2026 order
What we did: Read our cached copy of the publisher (https://theenergymag.com/news/2026-09-30/poolin-hut8-bid-reopen) in full (5,928 characters, retrieved October 5, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Poolin Auction Reopens as Hut 8 Deal Ties $80 Million to Data Center Milestones - TheEnergyMag
Quote: “Hut 8's affiliates remain the baseline buyers under agreements worth up to $180 million, comprising $100 million at closing and $80 million contingent on qualifying data center transactions.”
confirms Poolin Gets Approval For $180M Hut 8 Sale After Auction Redo - law360.com
Quote: “Poolin Gets Approval For $180M Hut 8 Sale After Auction Redo”